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Reuters reports that Lionel Desclee, the new CEO of the Walmart-owned Seiyu supermarket chain in Japan, said that rumors of the chain being sold are inaccurate.

"I'm not here to sell a business," he said. "Absolutely not at all.”

The story notes that “Walmart first entered the Japanese market in 2002 by buying a 6 percent stake in Seiyu, and gradually built up its stake before a full takeover in 2008 … Japanese media reported last year that Walmart considered selling Seiyu, and that a sale could amount to around 300 billion to 500 billion yen ($2.69 billion to $4.48 billion).”
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